It also said that a Brazilian court had granted it and its partner Vale a four-month extension to negotiate a settlement to a $47 billion claim stemming from the 2015 mine disaster.
Doug Hoerr, Caterpillar's vice president of the material handling & underground division, is retiring in August after more than 20 years with the company.
Shareholders of Brazil's Vale SA approved a share conversion plan on Tuesday in a move that should boost transparency, give equal votes to all shares and limit government meddling in the world's No. 1 iron ore producer.
South Africa's Chamber of Mines has applied to a high court for an interdict to prevent the implementation of a new charter that increases the minimum threshold for black ownership of mining companies
Iron ore's demand-driven price surge last year is increasingly looking like an aberration as supply factors once again start to weaken the price outlook.